1. One engineering study for each project type is conducted by Joule or by a Joule verification partner.
2. Each contractor seeking financing has a roster of project types, for which (s)he has qualified, on the Joule platform.
3. Contractor provides Cash Collateral and Loss Reserve.
4. Joule provides contractor with a pool of available capital, that the contractor can disseminate as (s)he chooses.
Joule Assets recently announced strategic partnerships with 10 U.S. based contractors, including NorthWrite, an energy information management company. Joule Assets is working with NorthWrite to create a financing solution that fulfills their needs.
Joule will finance 500 small to medium facilities, with an approximate cost of $20,000 each. Joule Assets and NorthWrite will then share energy savings and demand response revenue generated by each facility, above and beyond the guaranteed energy savings to the customer.